Health care among the industry leaders for blockchain, finds PwC

Financial services could be the leading industry that adopts the blockchain, but executives also see promises in areas like health, according to a PwC survey.

In recent years, industry and government stakeholders have supported efforts to use blockchain, a permanent and shared register of online transactions or exchanges, to simplify health operations. Unlike a traditional database centrally located and managed by a single party, a blockchain record is shared between a network of users.

To investigate the adoption of blockchain in all sectors, the consulting and auditing firm PwC interviewed 600 executives from various industries around the world. Most respondents – 84% – said that their organizations have at least some involvement with blockchain technology, even though only 15% live with a blockchain product beyond the pilot phase.

Here are seven important industries stacked when respondents were asked to select which sectors are the most advanced in the development of blockchain technologies:

1. Financial services: 46 percent

2. Industrial products and production: 12 percent

2. Energy and utility: 12 percent

4. Health: 11 percent

5. Government: 8 percent

6. Retail and consumer: 4 percent

7. Entertainment and media: 1 percent

Although executives see the potential in blockchain, they have cited many obstacles to the generalized adoption of technology. The main barriers include regulatory uncertainty (48%), lack of trust among users (45%) and ability to bring together a network (44%).

To download the PwC survey, click here

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